At a Glance
- Tasks: Join our team to develop innovative insurance products and enhance customer experiences.
- Company: A leading property casualty insurer with a strong commitment to innovation and collaboration.
- Benefits: Enjoy competitive salary, private medical insurance, generous holiday entitlement, and wellness programmes.
- Other info: Be part of a diverse team that values your unique talents and encourages community involvement.
- Why this job: Make a real impact in the insurance industry while working in a flexible hybrid environment.
- Qualifications: Solid underwriting experience and a passion for product development are essential.
The predicted salary is between 50000 - 65000 £ per year.
Who Are We? Taking care of our customers, our communities and each other. That's the Travelers Promise. By honoring this commitment, we have maintained our reputation as one of the best property casualty insurers in the industry for over 170 years. Join us to discover a culture that is rooted in innovation and thrives on collaboration. Imagine loving what you do and where you do it.
Job Category: Product, Underwriting
What Is the Opportunity? We're looking for a Product Development Specialist to join our Wordings & Product team. You'll bring hands-on commercial underwriting and policy wording experience - as well as a genuine passion for building products that truly serve our customers. You'll work alongside our Business Insurance Leadership team, bringing technical product and underwriting expertise to shape, design, and evolve our product portfolio. Travelers Europe currently offers flexibility to employees who wish to work on a hybrid basis in accordance with our Hybrid Work Arrangements Policy.
What Will You Do?
- Support the Technical Product development for new or updated products, working closely with the Subject Matter Expert (Portfolio/Product Manager, Managing/Senior Underwriter).
- Deliver the following, within agreed timelines, for new/updated products:
- Underwriting: development of appropriate appetite, underwriting parameters including capacity deployment, line size, new and renewal program rules, question sets, ensure reinsurance cover alignment, and risk survey parameters for product lines or industries.
- Wordings: using customer research completed by the Propositions and SMEs team, design the scope of wording (e.g. necessary extensions, conditions, exclusions).
- Product supporting materials: Draft Technical Collaterals (i.e. Product UW guides/guidance/bulletins) and update as part of the product development process.
- Technology: provide technical consultation on the design and implementation process of the technology platform to ensure successful integration or conversion of the new or updated product.
- Provide technical consultation to Propositions and SMEs regarding the review of competitor information.
- Contribute to the development of technical underwriting/broker training material to accompany product launch and assist with delivery as required by the SME.
- Maintain a log of approvals for the technical work to satisfy governance requirements.
- Provide input to progress reports as needed.
- Ensure that you keep abreast of market activity with regards the product content across first and third-party lines of business.
- Perform other duties as assigned.
What Will Our Ideal Candidate Have?
- Solid insurance underwriting experience.
- Thorough understanding of Business Insurance products, systems, contracts, forms, coverage, distribution channels, regulatory environment and insurance financials.
- Very strong verbal and written communications skills.
- Excellent organisational skills with the ability to plan, prioritise and adapt as required.
- Ability to communicate at all levels and manage stakeholder expectations.
- Good level of proficiency required in the following: Financial Acumen, Presentation Skills, Networking, Risk Selection and Critical and Analytical Thinking.
- Good working knowledge of Microsoft Office packages, including Word, Excel and Powerpoint.
- ACII qualifications.
What is a Must Have?
- Previous Insurance experience with good knowledge of product, underwriting or coverage.
What Is in It for You?
- Private Medical Insurance: On commencement of employment, you are eligible for single cover provided by Travelers, with the option to add cover for your dependents, at your expense through payroll deduction.
- Retirement: Travelers will make a core contribution of a percentage of salary to your Pension Plan.
- Holiday Entitlement: Start your career at Travelers with a minimum of 25 days holiday entitlement annually, plus the opportunity to purchase additional days to allow for up to a total of 35 holidays per year.
- Wellness Programme: The Travelers wellness programme is comprised of tools, discounts and resources that empower you to achieve your wellness goals and caregiving needs.
- Volunteer Encouragement: We have a deep commitment to the communities we serve and encourage our employees to get involved.
Employment Practices: Travelers is an equal opportunity employer. We value the unique abilities and talents each individual brings to our organization and recognize that we benefit in numerous ways from our differences.
Underwriting Product Development Specialist employer: Travelers Canada
Travelers Europe is an excellent employer, offering a dynamic work environment in London, Redhill, or Dublin where innovation meets collaboration. With a strong focus on employee growth, we provide comprehensive benefits including medical insurance, a pension plan, and generous holiday entitlement, all while fostering a culture that values teamwork and professional development. Join us to be part of a forward-thinking team that empowers you to excel in your career as a Senior Assistant Pricing Actuary.
